Vince McMahon has stepped down from TKO Group Holdings, Inc. TKO and its subsidiary, World Wrestling Entertainment, the wrestling giant he founded, following a lawsuit alleging sexual assault and trafficking, and vowed to contest the charges.
At 78, McMahon resigned as executive chairman of TKO Group, parent to WWE, where he no longer has a formal role, as communicated to WWE employees via an email from Nick Khan, the company’s president, The New York Times reported.
“He will no longer have a role with TKO Group Holdings or W.W.E.,” Khan wrote.
A lawsuit filed on Thursday in a Connecticut U.S. District Court alleges that McMahon trafficked employee Janel Grant and committed physical and emotional abuse. It also includes disturbing accusations of rape, according to the report.
The complaint also names John Laurinaitis, a former WWE executive, and WWE as defendants, detailing troubling claims of misconduct. It accuses Laurinaitis and McMahon of taking turns raping Grant, The New York Times noted.
Also See: Vince McMahon Files To Sell 8.4 Million Shares Of TKO Group: What’s Going On?
The lawsuit also says that McMahon later coerced Grant into signing a $3 million nondisclosure agreement but only paid her $1 million.
It further says that undisclosed high-ranking WWE members knew of McMahon’s behavior, prompting questions about their awareness.
In a post-resignation statement, McMahon dismissed the lawsuit as a “vindictive distortion” and expressed anticipation to clear his name. However, he said he resigned “out of respect” for TKO, WWE and their personnel.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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